Zuora, a SaaS startup that offers online services to manage and automate customer subscriptions and payments. Today they announced a new milestone; Zuora has signed over $1 billion in contracted subscription revenue in the first quarter of its new fiscal year.

“Zuora provides an online subscription billing and management platform, delivered via a SaaS model, for companies to build, run, and operate their subscription and recurring revenue businesses. Their subscription management platform allows them to focus on top line revenue growth, operational efficiency, and automation. Zuora provides this service to any business that has a subscription and/or recurring revenue model including Software-as-a-Service (SaaS), Web 2.0, Cloud Computing, and traditional enterprises that offer recurring revenue products and services.” Found on Zuora Website.

Zuora also saw a 102% growth in revenue, a 127% growth in organic cash flow and was cash flow positive for the quarters. Clients using Zuora’s service include Rearden Commerce, Pandora Media, ReputationDefender and HDCloud.